PUTRAJAYA: Datuk Seri Najib Razak has withdrawn his appeal against the Mareva injunction in 1Malaysia Development Berhad's (1MBD) US$681 million lawsuit filed against him.  

Lawyer Siva Kumar Kanabasagai who appeared for the sovereign wealth fund confirmed this when contacted today.  

A Mareva injunction freezes the assets of the person and prevents the transfer of such assets held in banks or financial institutions. 

1MDB had obtained an ex parte Mareva injunction against Najib from the High Court on Feb 8, 2022, freezing the latter's assets in relation to their claim of US$681 million against the former finance minister. 

As a result, Najib is allowed to withdraw up to RM100,000 monthly from his bank accounts for his expenses. If he requires more than that, he has to apply to 1MDB's solicitors. 

https://www.nst.com.my/news/crime-courts/2024/10/1119931/najib-withdraws-appeal-against-1mdb-mareva-injunction